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Dan McCaffery/trails
Why I'm running Posted by Dan McCaffery · November 06, 2012 4:30 PM Over the past five years, our nation has experienced a financial meltdown as a result of Wall Street's unchecked fraud and greed. Millions of hardworking Americans have lost their life savings, retirement, pensions and their homes as millions of others struggle daily to pay their rent. They are hardworking Pennsylvania men and women who need someone to stand up and fight for their rights. I am running for Attorney General because I will make this stand. The effects of the financial crisis have been felt in every household and businesses in Pennsylvania. For our local economy to prosper and grow, Pennsylvania businesses need to trust that our financial system is working for them, not against them. As both a trial lawyer and a former Assistant District Attorney, I have spent every day of the last twenty years in a courtroom; I've never backed down from a fight and I never will. As Attorney General, I vow to create the strongest law enforcement agency in the country and aggressively pursue and prosecute the perpetrators of financial fraud, crack down on corruption in government and root out fraud against taxpayers. The need for an antitrust statute in Pennsylvania Pennsylvania is one of only two states that do not have an Antitrust Statute to protect consumers and small business from unfair competition and monopolies. Without such a statute to protect these interests, Pennsylvanians will continue to lose millions each year to corporate price-fixing, market allocation, and unfair competition. In a recent antitrust case against Urology of Central Pennsylvania, the Commonwealth intervened to restore competitive balance after a monopoly requested and negotiated price increases from all area health insurance plans throughout the Harrisburg region. Pennsylvania needs a strong Antitrust Statue and an Attorney General who is willing to prosecute those who cheat our small business owners, tax payers, and consumers. For over 25 years, I've stood up to corporate fraud and prosecuted those who broke our laws. As a career trial lawyer and former Assistant District Attorney, only I have the experience needed to protect Pennsylvania families and bring these offenders to justice. As the only true trial lawyer in this race, no other candidate brings the level of knowledge, understanding, and experience that I can to this office. In my entire career I have never backed down from a courtroom fight, and as your next Attorney General, I promise I never will. Our economic recovery starts here Posted by Dan McCaffery · October 13, 2011 12:51 PM · 1 reaction In his famous 1906 "Square Deal" speech, President Theodore Roosevelt concluded, "We must keep ever in mind that a republic such as ours can exist only by virtue of the orderly liberty which comes through the equal domination of the law over all men alike, and through its administration in such resolute and fearless fashion as shall teach all that no man is above it and no man below it." I decided to run for Pennsylvania Attorney General because this basic tenet, this pillar of self-government for our American republic is crumbling. We are evolving a subjective rule of law, where some people, some corporations are above the law. This cannot be allowed to continue for the welfare of our people, state, and our country. It is now clear to us all, the deterioration of the "domination of law" and its equal administration is impacting the health of the nation and most harmfully the economy. For three decades, average Americans' wages remain stagnant, and this was before the recession. The Census Department recently released figures showing, in just the last two years, the median household income has fallen 7%! Meanwhile at the top, Wall Street continues to award record bonuses and our largest corporations gain record profits. Today, our country's wealth is so concentrated, you have to go back almost a century, to the days of Teddy Roosevelt, for a time when the top 1% held so large a portion of our national wealth. None of this happened by accident. There have been two main causes. First and foremost, our political and government processes were flooded with billions of dollars from Wall Street and big corporations. We watched their lobbyists rewrite the laws both in DC and Harrisburg. We watched an ever faster revolving door between government and business create a generation of regulators, whose job is to protect the public interest, trying instead, to benefit their future private interests. Secondly, even though their money influence allows them to write their own laws, when they break them, there is no consequence. The most insidious example is the massive housing bubble blown by Wall Street and its subsequent popping, striking at the single largest savings plan for most Americans -- their homes. Instead of looking forward to savings for their retirement, eleven-million Americans are now underwater in their mortgages – their loan worth more than their house. Yet, no one has gone to jail. As this is written, many of the states' Attorney Generals are together attempting to reach a settlement on some of the abuses, fraud, and law breaking that occurred, such as the doctoring and false signing of notes and other papers. Last month, the Federal Housing and Finance Agency announced it was initiating suits against Wall Street's biggest corporations, alleging "violations of federal securities laws and common law in the sale of residential private-label mortgage-backed securities." Unfortunately, the terms of settlement being talked about are pennies on the dollar, far too little for crimes that have destroyed families, pensions, and communities, wreaking havoc on our entire economy. We cannot have a rule of law which sends someone robbing a gas station for a couple hundred dollars to prison, while a Wall Street executive pilfering millions stays in his corner office, his wallet not any lighter for him to notice. We will not fix our economy until we come to terms with the crimes and fraud committed at the center of our financial system. I call on the states' Attorneys General to quit negotiating and start investigating. How can we possibly settle anything when we don't know exactly what happened? Only by upholding the law can we understand what went wrong and more importantly, how to reform our financial system so it works again for the hard working majority, not a privileged connected few. The administration of the rule of law in a "resolute and fearless fashion" is the foundation of the greatness of America's political economy. Our economic recovery starts here. Dan McCaffery talks Wall Street: Endorsements roll in The race for Attorney General is kicking into high gear. On September 26, when Daniel McCaffery announced his candidacy for Attorney General, his message was immediately embraced, and endorsements are rolling in. This weekend, as he traveled through Western PA to attend the Bloomfield Columbus Day Parade, Rep. Mike Doyle’s picnic, the Beaver County Labor Council/Minority Coalition Picnic, Representative Tim Mahoney’s picnic and a meeting of the FireArms Owners Against Crime, McCaffery received the backing of: * Beaver County Sheriff George David * Representative Dom Costa of the 34th Legislative District, Allegheny County * Dani Bertani, Westmoreland Democratic Chair * George Vitek, Washington County Democratic Party Chair * Richard G. Shreckengost, Armstrong County Democratic Party Chair * Fred Lebder, Fayette County Democratic Party Chair * Mayor Marty O'Malley of Forest Hills, PA. Speaking with those who came out for the parade and picnic, McCaffery heard the same thing over and over: jobs are hard to find, bills are growing, and nobody understands the plight of the middle class. As he listens to news reports from across the country, he feels the pain and frustration. He realizes that he can provide Pennsylvanians the help they so desperately need. “People understand and support my message. They agree with my stance that, over the past five years, our nation has experienced a financial meltdown as a result of Wall Street's unchecked fraud and greed. Hardworking Pennsylvania men and women need someone to stand up and fight for their rights. I am running for Attorney General because I will make this stand.” Don't let lenders off the hook for greed In my opinion, any acceptance of this settlement would not only betray the American people, but would represent nothing less then a second bailout for Wall Street that once again comes at the expense of the tax payer. From an editorial in fall 2011's Philadelphia Inquirer: California Attorney General Kamala Harris is right. The nation should not rush to settle with lenders before finishing investigations into how their irresponsible mortgage spree has damaged the economy. Harris walked out of talks last week among 50 state attorneys general, the U.S. Justice Department, and major lenders concerning a proposed settlement to compensate homeowners victimized in the foreclosure robo-signing scandal. She correctly asserted that the banks' request for immunity against future claims was too broad. Without a full investigation into how lenders made and then sold bad loans, harming both homeowners and investors, how can anyone come up with a proper settlement amount? Add your reaction Share A commitment to protect hard working Pennsylvanians DanMcCaffery New press release: McCaffery releases White Paper on Pennsylvania False Claims Act to prevent fraud. http://t.co/GJZfKgGj about 1 hour ago · reply · retweet · favorite DanMcCaffery Don't forget to vote today!!! There is still time to make it to your local voting place...everyones voice needs to be heard... #vote yesterday · reply · retweet · favorite DanMcCaffery Another picture from A.B.A.T.E. #abate #Philly #PA http://t.co/WJ3CJ2Xz yesterday · reply · retweet · favorite DanMcCaffery More pictures from A.B.A.T.E. on Sunday #abate #PA #Philadelphia http://t.co/SLDXwrx0 yesterday · reply · retweet · favorite